[Raceboy]

The national motorsport body of France - the Fédération Française du Sport Automobile [FFSA] - has confirmed that the necessary financial guarantees to secure the future of the French Grand Prix have now been put in place.

In a short statement issued on Friday [19 December], the FFSA reported that it had 'signed and transmitted the contract concerning the organisation of the French Grand Prix 2004 to Formula One Management [FOM], including the financial guarantees stipulated'.

The race was axed from the calendar last month when it failed to reach an agreement with Bernie Ecclestone and the FOM regarding the necessary payments for both the 2003 event and that scheduled for next year. FFSA president Jacques Regis said in a press conference that a shortfall of around $8million had placed the 2004 race in jeopardy and could potentially threaten France's place on future F1 calendars, before calling on the national government for economic support.

Although no details of exactly where the money has come from have been released - the announcement notably coincided with the revelation that the Burgundy regional council, which had proposed to grant E2million to the cause, had had its plan rejected by political opposition - it now appears that Magny-Cours will be re-instated, boosting the F1 schedule to a record 18 races.

The return of the race, which has been moved forward to the 4 July in a switch of dates with Silverstone, has just one further hurdle to clear, as it remains subject to the agreement of all ten competing teams, who have until the end of the year to signal any opposition.

bron: crash.net